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One effect of the Smoot-Hawley Tariff is other countries responded by raising tariffs on American goods, further hurting the economy.
<u>Explanation</u>:
- The Tariff Act of 1930, better known as the Smoot-Hawley Tariff implemented protectionist trade policies in United States.
- It was signed by President Herbet Hoover and was sponsored by Senator Reed Smoot and Representative Willis.C.Hawley on June 7, 1930.
- This act increased tariff on foreign imports to America by 20%.
- At least 25 countries responded to it by increasing their own tariffs on American goods.
- Global trade declined steeply resulting in the Great depression.
- It increased 900 import tariffs.
- This act also contributed to the start of World War 2.
- It is one of the worst act in congressional history.
Answer:
the natural path of economic development
Explanation:
After the second world, developing nations attained independence from their colonial masters, one of the reasons behind independence movements in colonies was that colonization stunted economic growth. There were different economic movements after this time to ensure independence(apart from humanitarian needs) didn't also mean failure for these nations. Modernization in this time was considered a tool for this economic development amongst various nations.
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